Here are the key takeaways from JPMorgan's Imran Khan, via a note he just blasted out to clients.

Standard disclaimer: Bear in mind that this is just one data point from one source.

According to the data, total US explicit core search volume increased 12.1% Y/Y in December, a slight acceleration from 11.5% growth in November. In 4Q, total explicit search volume grew 13.4% Y/Y vs 14.7% growth in 3Q.